Royal Builders Acquires Development Site In Borough Park For $6.2M

5402 & 5414 Ft. Hamilton Parkway, located in Borough Park, was sold in a closed property transaction. The development site has a total lot size of 2,140 square feet and features a zoning classification of R6, C1-3. A full demolition permit was issued on February 25, 2014. The lot dimensions measure 20.33 feet by 105.25 feet.

Summary of Transaction Details

• Property Type: Development Site
• Transaction Amount: $6,200,000
• Buyer: Royal Builders
• Seller: Mitchell Hirth
• Building Square Footage: 50,678
• Price per Square Foot: $122
• Far: 2.43 (Residential)
• Tax Class: 4

The buyer in this transaction was Royal Builders, represented by their broker Mitchell Hirth. The sale price for the property was $6,200,000, with a building square footage of 50,678 and a price per square foot of $122. The development site is classified as Far: 2.43 (Residential) and Tax Class: 4.